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ERROR CODE 92 , SEC 139(9) OF INCOME TAX ACT. 1961. - Whether ITR 7 applicable to trust/society having gross receipts greater than 1 cr but no exemption benefits allowed ?, Income Tax |
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ERROR CODE 92 , SEC 139(9) OF INCOME TAX ACT. 1961. - Whether ITR 7 applicable to trust/society having gross receipts greater than 1 cr but no exemption benefits allowed ? |
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Trust/ educational Institution has filed ITR in form 7 for AY 2018-19, having receipts greater than 1 Cr and has no registration u/s 12A. and paid tax as per slab rate as applicable to trust in form ITR 7 and has not claimed any exemption u/s 10 to 13. Now the ITR has been considered defective. The resolution as provided by CPC is to file ITR1 to 6 (probably 5). The question is How to compute the Income to be shown in ITR 5. Tax rate shall be 30% or to compute the income as trust and put taxable amount directly in ITR. Professional fee will be given for support & successful result. The matter is very Urgent. Contact No. 9680003049. Email: cachamanbanthia@gmail.com
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